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Spotify gets serious about podcasts with two acquisitions



Spotify is committed to building a podcast network today. Music streaming giant has bought Gimlet Media and Anchor to boost their podcast credentials, as the company appears to grow its share of the podcast market. Gimlet Media is a startup podcast network, and Anchor provides creators with tools for building, publishing, and making money from podcasts. "In just two years, we've become the second largest podcasting platform," Spotify CEO Daniel Ek explains. "Our podcast users spend almost twice as much time on the platform and spend even more time listening to music."

I think Spotify's efforts on podcasts will cause 20 percent of all Spotify listeners to remain non-music content in the future. "This means the potential to grow much faster with more original programming ̵

1; and to separate Spotify by playing for what makes us unique – all with the goal of becoming the world's leading audio platform."

Spotify is now planning more podcasts acquisitions in 2019, and the company notes that it is willing to spend around $ 500 million to boost its podcast business this year. Recode reports Spotify paid around $ 230 million for the Gimlet alone. Spotify also revealed today that it had 207 million monthly active users in the last quarter, along with 96 million paid subscribers. It's nearly twice as many as 50 million Apple Music subscribers, as CEO Tim Cook revealed in Apple's latest earnings call.

It's a daring goal, and Spotify has already been a striking offer to get original shows for its service. Amy Schumer's 3 Girls, 1 Keith appeared on Spotify, and the service also received exclusive streaming rights for the upcoming season of Crimetown . Spotify's Gimlet Acquisitions will surely help unlock more original content for the service and be able to pull people away from rivals such as Apple Podcasts or Stitcher.


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